S.Korea Q2 GDP grows 1.1 pct vs Q1, tops expectations
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SEOUL, July 25 (Reuters) - South Korea's economy grew by a seasonally adjusted 1.1 percent in the April-June quarter over the previous three months, the central bank's advance estimates showed on Thursday, exceeding the market's consensus forecast.
The seasonally adjusted reading compares with the median in a Reuters survey that estimated the export-reliant economy to have expanded by 0.8 percent in the second quarter, steady from a 0.8 percent increase in the prior quarter.
It was the quickest quarterly growth since the first quarter of 2011 when the South Korean economy expanded by 1.3 percent on a sequential basis, indicating Asia's fourth-largest economy had passed the trough.
Private consumption grew by a seasonally adjusted 0.6 percent in the second quarter after a 0.4 percent drop in the first quarter. Capital investment was down 0.7 percent after a 2.6 percent rise, the Bank of Korea's estimates showed.
Over a year earlier, South Korea's gross domestic product expanded by 2.3 percent, compared to a median 2.0 percent gain forecast in the Reuters survey and after a 1.5 percent rise in the first quarter.
(Reporting by Christine Kim; Editing by Shri Navaratnam and Choonsik Yoo)